VANCOUVER, May 24, 2016 /CNW/ - POYDRAS GAMING FINANCE CORP. (TSX-V: PYD) ("Poydras," "PGFC," or the "Company") announces that it has entered into a new long-term contract to place approximately 230 gaming machines in a new Native American-owned casino in Oklahoma. The revenue sharing agreement is expected to add at least US$2.0 million dollars in annual run-rate revenue. In FY 2015 Poydras reported US$8.2 million dollars in revenue.
The new casino is expected to open early in the third quarter with all machines deployed and revenue producing by the end of September. With these machines in place, the Company will have over 2,600 revenue-generating machines deployed.
"We are pleased to exceed our early 2016 target of 2,500 installed machines, and in the continued expansion of our footprint in Oklahoma, which is a strong, vibrant and growing gaming market," said Peter Macy, CEO of Poydras. "Moving forward, we are committed to expanding our existing network and executing on opportunities to continue growing our strong base of recurring revenue."
The Company also announces that they will hold a conference call to discuss the results for its first quarter ended March 31, 2016. The call will be hosted by Peter Macy, CEO, and Adam Kniec, CFO on Tuesday, May 31, 2016 at 7:00 a.m. PST (10:00 a.m. EST), and followed by a question and answer period. All interested parties are invited to participate.
The Company will report its financial results for the first quarter on or before May 30, 2016.
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